Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>LGEN stock price is in an uptrend after rebounding from the current support level.&nbsp;</a> </li> 
 <li> <span>2</span> <a>RSI and MACD are showing an uptrend as the stock is creating some green candles.&nbsp;</a> </li> 
 <li> <span>3</span> <a>The 50-day EMA is standing between the immediate resistance level and the bulls.</a> </li> 
</ul> 
<p>Legal &amp; General Group Plc (LON: LGEN) is a listed company on the London Stock Exchange (LSE) that provides risk, savings, and investment management products and services. The company operates through four segments: Legal and General Retirement Institutional (LGRI), Legal and General Investment Management (LGIM), Legal and General Capital (LGC), and Retail.</p> 
<h1 class="wp-block-heading" id="strong-a-brief-financial-performance-of-the-company-strong"><strong>A brief financial performance of the company</strong></h1> 
<p>Fundamentally the company hasn’t been performing well in the past year years as the revenue is declining constantly, The company reported its sales numbers as £66B in 2019 which declined to more than 78% in 2022, The company reported its revenue as just £14B. This has been reflected in the LGEN stock price which was more than 28% down from 2019.&nbsp;</p> 
<p>However, for 2 years the company has been doing something that is in their control, cutting off the general and admin expenses. This may have not yet impressed the investors but it has certainly helped in increasing the net income of the company.&nbsp;</p> 
<p>This net profit increase can be further seen with the increasing price-to-earnings ratio. This has also helped the company maintain its dividend yields which declined during the past years. At present the dividend per share of the company is £0.18 while the dividend yield is 7.76%.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-price-prediction-of-lgen-stock-strong"><strong>Technical analysis and price prediction of LGEN stock</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="511" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-1024x511.png" alt="LGEN Stock Price: Declining Revenue is Reflected in the Stock" class="wp-image-167600" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-768x383.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-1536x766.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-750x374.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352-1140x569.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-352.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Chart provided by TradingView (Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>The LGEN <a href="https://www.thecoinrepublic.com/2023/08/02/mnt-algo-bsv-price-prediction-2023-facing-growth-or-decline/" target="_blank" rel="noreferrer noopener">stock price</a> has seen a downtrend since March of this year. The 50-day EMA made a bearish crossover with the 200-day EMA back in March, and as they both came down in a negative trend, the 50-day EMA gave several rejections to bulls. At present, the 50-day EMA is at the level of £223 while the 200-day EMA is at £236.</p> 
<p>At the press times, the LGEN stock is trading at £221. The stock is taking its immediate support level of £218 and is moving upwards. The immediate resistance of the LGEN stock will be at £234. Beyond these pivot levels, other support and resistance levels are at £203 and £250, respectively.</p> 
<p>Furthermore, the MACD and the RSI lines are both seen in an uptrend after moving averages have made a bullish crossover with them. The MACD line is at -1.98, while its EMA is at -2.72. in case of the RSI, the SMA line is at 42, while the RSI line is above the neutral territory of 51.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The LGEN price prediction will be bullish if the investors can get past the 50-day EMA line which is the current price rejector. However, the current momentum is looking strong enough to get past it. If this happens, the LGEN stock price will move to its immediate resistance level of £234.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support levels: £218 and £203</p> 
<p>Resistance levels: £234 and £250&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

LGEN Stock Price: Declining Revenue is Reflected in the Stock

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